ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — The AES Corp. (AES) on Thursday reported a second-quarter loss of $95 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Arlington, Virginia-based company said it had a loss of 15 cents. Earnings, adjusted for one-time gains and costs, were 51 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The power company posted revenue of $2.86 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $3.3 billion.
AES expects full-year earnings in the range of $2.10 to $2.26 per share.
AES shares have risen nearly 2% since the beginning of the year, while the S&P’s 500 index has increased roughly 8%. In the final minutes of trading on Thursday, shares hit $13.10, a decrease of 26% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AES at https://www.zacks.com/ap/AES
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